Invesco Ltd. Acquires 184,775 Shares of MRC Global Inc. $MRC

Key Points

• Invesco Ltd. significantly increased its stake in MRC Global Inc. by 62.8%, acquiring an additional 184,775 shares, bringing total holdings to 478,848 shares worth approximately $5.5 million.
• MRC Global reported $0.25 earnings per share for the last quarter, exceeding expectations, and revenue was $798 million, beating estimates of $784.6 million.
• Research reports indicate a consensus rating of "Moderate Buy" for MRC Global, with an average price target set at $16.00.

Invesco Ltd. raised its holdings in MRC Global Inc. (NYSE:MRC - Free Report) by 62.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 478,848 shares of the oil and gas company's stock after buying an additional 184,775 shares during the quarter. Invesco Ltd. owned about 0.56% of MRC Global worth $5,497,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Meeder Asset Management Inc. raised its position in shares of MRC Global by 24.7% in the 1st quarter. Meeder Asset Management Inc. now owns 5,462 shares of the oil and gas company's stock worth $63,000 after acquiring an additional 1,081 shares in the last quarter. Hsbc Holdings PLC boosted its position in shares of MRC Global by 3.7% in the 4th quarter. Hsbc Holdings PLC now owns 34,562 shares of the oil and gas company's stock worth $440,000 after purchasing an additional 1,234 shares in the last quarter. MetLife Investment Management LLC increased its position in shares of MRC Global by 3.8% during the fourth quarter. MetLife Investment Management LLC now owns 51,551 shares of the oil and gas company's stock valued at $659,000 after acquiring an additional 1,886 shares in the last quarter. EP Wealth Advisors LLC increased its position in shares of MRC Global by 19.6% during the fourth quarter. EP Wealth Advisors LLC now owns 15,682 shares of the oil and gas company's stock valued at $200,000 after acquiring an additional 2,567 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its position in shares of MRC Global by 35.7% during the fourth quarter. Envestnet Asset Management Inc. now owns 14,657 shares of the oil and gas company's stock valued at $187,000 after acquiring an additional 3,855 shares in the last quarter. Institutional investors own 94.97% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Zacks Research raised shares of MRC Global to a "hold" rating in a research report on Friday, August 8th. Wall Street Zen upgraded shares of MRC Global from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Susquehanna increased their price objective on shares of MRC Global from $14.00 to $15.00 and gave the company a "positive" rating in a research report on Thursday, August 7th. Finally, Stifel Nicolaus lowered their price objective on shares of MRC Global from $17.00 to $16.00 and set a "buy" rating on the stock in a research report on Monday, July 21st. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $16.00.

MRC Global Stock Performance

NYSE MRC traded down $0.26 during trading hours on Friday, hitting $15.08. 272,012 shares of the company's stock traded hands, compared to its average volume of 686,289. The business's fifty day moving average price is $13.97 and its two-hundred day moving average price is $12.63. The company has a current ratio of 1.84, a quick ratio of 1.00 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of $1.28 billion, a P/E ratio of -62.83 and a beta of 1.65. MRC Global Inc. has a 52 week low of $9.23 and a 52 week high of $15.59.

MRC Global (NYSE:MRC - Get Free Report) last released its earnings results on Wednesday, August 6th. The oil and gas company reported $0.25 EPS for the quarter, topping analysts' consensus estimates of $0.23 by $0.02. MRC Global had a negative net margin of 0.10% and a positive return on equity of 11.81%. The company had revenue of $798.00 million for the quarter, compared to analysts' expectations of $784.60 million. During the same quarter last year, the business earned $0.28 EPS. The firm's revenue was down 4.1% compared to the same quarter last year. Equities research analysts predict that MRC Global Inc. will post 0.86 EPS for the current year.

MRC Global Profile

MRC Global Inc, through its subsidiaries, distributes pipes, valves, fittings, and other infrastructure products and services in the United States, Canada, and internationally. It offers ball, butterfly, gate, globe, check, diaphragm, needle, and plug valves; other products, such as lined corrosion resistant piping systems, control valves, valve automation, and top work components; and valve modification services, including valve control extensions, welding, hydrotesting, painting, coating, x-raying, and actuation assembly.